Direct Source News

Unfiltered Direct Source News From Governments & Companies

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below.

September 09, 2021

Federal Reserve publishes paper describing landscape of partnerships between community banks and fintech companies

For release at 12:00 p.m. EDT

To support responsible innovation in the community banking sector, the Federal Reserve Board on Thursday published a paper describing the landscape of partnerships between community banks and fintech companies. The paper captures insights gathered from extensive outreach with community banks, fintechs, and other stakeholders. The outreach involved discussions focused on the strategic and tactical decisions that support effective partnerships.

Federal Reserve Board Governor Michelle W. Bowman said, “This paper will be a valuable resource for community banks seeking to leverage the benefits of new technologies through partnerships with fintechs. As the paper underscores, it is vital that a community bank’s strategic goals align with the fintech provider and that the bank develop a culture committed to ongoing innovation.”

For media inquiries, call 202-452-2955

Last Update:
September 09, 2021

Source link

Author: Editor
Editor represents multiple online news sites, including STL.News, RSSNews.Press and more. We believe that our "direct source news" concept helps provide accurate information to the public without bias. We want to help improve technology so the news is presented as it was intended to be.